The Week: Media news - BSkyB must pare ITV stake

The Competition Appeal Tribunal has confirmed the Competition Commission's original ruling that BSkyB must sell down its stake in ITV from 17.9 per cent to less than 7.5 per cent.

The move could lead to a takeover battle for the UK's largest broadcaster. BSkyB bought the 17.9 per cent stake in November 2006 for £940 million, but the substantial fall in ITV's share price has since reduced its value to around £300 million.